Sensex down over 300 points; Nifty trades below 17,450; Auto stocks underperform

7 Feb 2022 , 10:50 AM

Equity benchmark indices extended losses in Monday morning deals amid weakness seen in auto and financial stocks.

BSE Sensex fell 337 points or 0. 58 per cent to 58,307, while the broader NSE Nifty moved 102 points or 0.58 per cent lower to 17,414. Mid- and small-cap shares were in the negative zone as Nifty Midcap 100 index dipped 0.76 per cent and small-cap shares were also down by 0.92 per.

Hero MotoCorp was the top Nifty laggard, followed by Eicher Motors, Divi’s Lab, Tata Consumer Products, Bajaj Finance and Bajaj Auto were also top losers. Tata Steel, SBI, Power Grid, NTPC and Coal India were among the gainers on the Nifty index.

On BSE, the overall market breadth was positive as 1,261 shares were advancing while 561 were declining.

Most active stocks on NSE in early trade are Bank of Baroda, Vodafone, Yes Bank and State Bank of India.

Among global markets, Asian markets trading mixed after the Lunar holidays with the Japanese ‘Nikkei’ trading lower by 200 points.

Taiwan index was trading up over 185 points in early trade as markets reacted to US cues where the indices saw a sharp rally last week. Semiconductor shortage is seeing signs of stability which could see Taiwan & South Korean markets react positively to the same.

In the US Markets, S&P 500 futures and Nasdaq futures both eased slightly, after last week’s market turmoil saw Amazon.com Inc gain almost $200 billion while Facebook-owner Meta Platforms Inc lost just as much.